Greenberg Traurig Maher Advises on US$330 Million Sale of ApaTech Limited to Baxter International
LONDON, March 18 /PRNewswire/ -- Greenberg Traurig Maher LLP represented the private equity sellers and senior management of ApaTech Limited, a private equity-backed, UK-based orthobiologic products company, in its sale to global health care company Baxter International Inc. The transaction closed on 12 March and, as a result, Baxter acquired all of the outstanding equity of ApaTech for total consideration of up to US$330 million.
"We created Greenberg Traurig Maher to help our clients respond swiftly to opportunities in today's fast-moving business environment," said Paul Maher, Chairman of Greenberg Traurig Maher's London office. "Our team brings together deep transactional experience advising companies in the life sciences industry. We are pleased our clients turned to Greenberg Traurig Maher to help ensure this critical deal was completed."
In this transaction, Baxter acquired ACTIFUSE, a silicate substituted calcium phosphate synthetic bone graft material currently marketed in the United States, EU and other select markets around the world. Baxter also acquired manufacturing and R&D facilities located in the UK, United States and Germany.
ApaTech generated sales of approximately US$60 million in calendar year 2009. According to a company press release, Baxter and ApaTech personnel will work to ensure uninterrupted operations, product distribution and ongoing support and service for ApaTech customers, distributors and business partners, and seamless integration of the business into Baxter.
Under the terms of the agreement, Baxter made an upfront cash payment of US$240 million, and may make additional payments of up to US$90 million related to the achievement of sales milestones.
About Greenberg Traurig Maher LLP
Greenberg Traurig Maher LLP was established in 2009 in the UK by international law firm Greenberg Traurig, LLP. Greenberg Traurig Maher's rapidly expanding office provides shareholder-led advice to domestic and international clients on a range of matters across the legal spectrum. Lawyers at Greenberg Traurig Maher advise UK and multinational clients operating in many different sectors, including chemicals, pharmaceuticals, life sciences, energy, real estate, financial services, information services, automotive, entertainment, retail and communications. For additional information, please visit www.gtmlaw.com.
About Greenberg Traurig, LLP
Greenberg Traurig, LLP is an international, full-service law firm with approximately 1775 attorneys serving clients from more than 30 offices in the United States, Europe and Asia. In the U.S., the firm has more offices than any other among the Top 20 on The National Law Journal's 2009 NLJ 250. In the U.K., the firm operates as Greenberg Traurig Maher LLP. Additionally, Greenberg Traurig has strategic alliances with the following independent law firms: Studio Santa Maria in Milan and Rome, TA Lawyers GKJ in Tokyo, and Weber Law Office in Zurich. The firm was Chambers and Partners' USA Law Firm of the Year in 2007 and among the Top 3 in the International Law Firm of the Year.
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